Need Help?
Need professional advice for your consent to let with Hodge Life? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Common questions relating to Hodge Life consent to lease
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My wife and I have a Hodge Life home loan and are have made overpayments to bring the loan amount down, in gainful employment etc. Do you know how much the fees are and if Hodge Life usually grant consent to let without transferring to a different deal?
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Can one refinance on a consent to lease with Hodge Life?
- Due to meet with my IFA on tomorrow. I will seek Consent to Let from my current lender Hodge Life. My new property in Wandsworth will be 90% loan to value. Heard whispers that some lenders turn away consent to let borrowers and I may have issues regarding my new mortgage. Am I likely to encounter this problem?
- My fiance and I might have to rent out her apartment, and I have a question concerning getting authority to do so. I know I need to notify Hodge Life and get a consent to let or move across to a BTL product. But the property is leasehold, so do we have to get consent to let from the management company?
- I don't currently have consent to let by Hodge Life but I would like to change to one, I am looking at working away for eighteen months. But want to keep my house for when I come back - are you able to help?
- My job is now requiring mebe in different countries a lot and in the circumstances I wish to understand the procedure for getting consent to let with Hodge Life
- I have a normal mortgage with Hodge Life which is only seven weeks long but I have been moved abroad with my job. Is it possible to obtain consent to let from Hodge Life for a mortgage that has only just started and I have just bought the property?
- Please can you inform me how much the fees are and if Hodge Life usually give consent to let without changing to a commercial rate?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in in addition to the above Hodge Life consent to let information
Tax and Legal
There may be various tax and legal (from restrictions on title, lease prohibitions to planning issues) implications when letting out your property. You should always seek the advice of a solicitor and accountant before letting out your property.
Insurance
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
Leasehold properties
If your property is leasehold, the lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in breach of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Hodge Life